ZuoTi.Pro
Question

Oriole Company purchased a new machine on October 1,2019,at a cost of $132,000. The company estimated that the machine will have a salvage value of $19,000. The machine is expected to be used for 10,000 working hours during its 5-year life. Compute the depreciation expense under straight-line method for 2019. (Round answer to O decimal places, e.g.2,125.) 2019 Depreciation expense

business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Calculation of depreciation expenses

Cost of the asset (A)

$132,000

Less: salvage value (B)

($19,000)

Depreciable value of asset (C=A-B)

$113,000

Life of the asset (D)

5 years

No of months used during the year 2019

3

Ans

Depreciation under straight line method for the year 2019 (E= C/D)*3/12

$5,650
0 0
Add a comment
Know the answer?
Add Answer to:
Oriole Company purchased a new machine on October 1,2019,at a cost of $132,000. The company estimated...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Cullumber Company purchased a new machine on October 1,2019, at a cost of $110,000. The company...

    Cullumber Company purchased a new machine on October 1,2019, at a cost of $110,000. The company estimated that the machine will have a salvage value of $10,000. The machine is expected to be used for 10,000 working hours during its 4-year life Compute the depreciation expense under straight-line method for 2019. (Round answer to O decimal places, e.g. 2,125.) 2019 Depreciation expense Compute the depreciation expense under units-of-activity for 2019, assuming machine usage was 1,500 hours. (Round depreciable cost per...

  • Question 4 Skysong, Inc. purchased a new machine on October 1, 2019, at a cost of...

    Question 4 Skysong, Inc. purchased a new machine on October 1, 2019, at a cost of $118,000. The company estimated that the machine will have a salvage value of $12,000. The machine is expected to be used for 10,000 working hours during its 5-year life. (a) Compute the depreciation expense under straight-line method for 2019. (Round answer to o decimal places, e.g. 2,125.) 2019 Depreciation expenses

  • Skysong, Inc. purchased a new machine on October 1, 2020, at a cost of $118,000. The company estimated that the machine...

    Skysong, Inc. purchased a new machine on October 1, 2020, at a cost of $118,000. The company estimated that the machine will have a salvage value of $12,000. The machine is expected to be used for 10,000 working hours during its 5-year life. Compute the depreciation expense under straight-line method for 2020. (Round answer to O decimal places, eg. 2,125.) 2019 $ Depreciation expense eTextbook and Media Compute the depreciation expense under units-of-activity for 2020, assuming machine usage was 1,610...

  • Exercise 9-6 Blossom Company purchased a new machine on October 1, 2019,, at a cost of...

    Exercise 9-6 Blossom Company purchased a new machine on October 1, 2019,, at a cost of $135,000. The company estimated that the machine will have a salvage value of $20,500. The machine is expected to be used for 10,000 working hours during its 4-year life. Compute the depreciation expense under straight-line method for 2019. (Round answer to o decimal places, e.g. 2,125.) 2019 Depreciation expense LINK Tο TE VIDEO: SIMILAR EXERCISE Compute the depreciation expense under units-of-activity for 2019, assuming...

  • Exercise 9-6 Rottino Company purchased a new machine on October 1, 2015, at a cost of...

    Exercise 9-6 Rottino Company purchased a new machine on October 1, 2015, at a cost of $121,800. The company estimated that the machine will have a salvage value of $10,400. The machine is expected to be used for 10,400 working hours during its 5-year life. Compute the depreciation expense under straight-line method for 2015. (Round answer to 0 decimal places, e.g. 2,125.) Compute the depreciation expense under units-of-activity for 2015, assuming machine usage was 1,500 hours. (Round per hour value...

  • Exercise 10-06 a-c Sarasota Company purchased a new machine on October 1, 2020, at a cost...

    Exercise 10-06 a-c Sarasota Company purchased a new machine on October 1, 2020, at a cost of $113,500. The company estimated that the machine will have a salvage value of $13,500. The machine is expected to be used for 10,000 working hours during its 5-year life. Compute the depreciation expense under straight-line method for 2020. (Round answer to 0 decimal places, e.g. 2,125.) 2020 Depreciation expenses LINK TO TEXT Compute the depreciation expense under units-of-activity for 2020, assuming machine usage...

  • Novak Company purchased a new machine on October 1, 2020, at a cost of $110,100. The...

    Novak Company purchased a new machine on October 1, 2020, at a cost of $110,100. The company estimated that the machine will have a salvage value of $10,100. The machine is expected to be used for 10,000 working hours during its 4-year life. (a) New attempt is in progress. Some of the new entries may impact the last attempt grading.Your answer is incorrect. Compute the depreciation expense under straight-line method for 2020. (Round answer to 0 decimal places, e.g. 2,125.)...

  • Cullumber Company purchased a new machine on October 1, 2022, at a cost of $66,000. The...

    Cullumber Company purchased a new machine on October 1, 2022, at a cost of $66,000. The company estimated that the machine has a salvage value of $7,140. The machine is expected to be used for 72,000 working hours during its 6-year life. Compute the depreciation expense under the straight-line method for 2022 and 2023, assuming a December 31 year-end. (Round answers to 2 decimal places, e.g. 5,275.25.) Exercise 9-05 Cullumber Company purchased a new machine on October 1, 2022, at...

  • Novak Company purchased a new machine on October 1, 2020, at a cost of $110,100. The...

    Novak Company purchased a new machine on October 1, 2020, at a cost of $110,100. The company estimated that the machine will have a salvage value of $10,100. The machine is expected to be used for 10,000 working hours during its 4-year life. (b) Compute the depreciation expense under units-of-activity for 2020, assuming machine usage was 1,610 hours. (Round intermediate calculations to 1 decimal place, e.g.10.1 and final answer to 0 decimal places, e.g. 2,125.) Depreciation expense $

  • Sunland Company purchased a new machine on October 1, 2022, at a cost of $80,360. The...

    Sunland Company purchased a new machine on October 1, 2022, at a cost of $80,360. The company estimated that the machine has a salvage value of $7,010. The machine is expected to be used for 70,800 working hours during its 7-year life. Compute the depreciation expense under the straight-line method for 2022 and 2023, assuming a December 31 year-end. (Round answers to 2 decimal places, e.g. 5,275.25.) 2022 2023 The depreciation expense under the straight-line method

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT